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(Reuters) - Governments worldwide need to simplify rules around hydrogen supply to attract investment and scale it up to become competitive enough to substitute fossil fuel use in heavy industry, energy executives said this week. Hydrogen as a potential alternative to natural gas, coal or oil burned in heavy industry or shipping is seen as... Continue Reading →
(OE) The Belgian companies DEME, Tractebel, and Jan De Nul on Wednesday introduced a new harsh-environment offshore floating solar technology called SEAVOLT. According to the three firms, SEAVOLT technology (patent pending) can withstand harsh offshore conditions while creating large surfaces that are protected from the waves. "The modular design allows for easy adaptation to different... Continue Reading →
(OM) The growth in investment in renewable energy projects continues in 2023, according to a recent Rystad Energy report. There has been significant growth in offshore wind, with over 45 GW of capacity launched globally in 2022. As many countries ramp up efforts to meet self-imposed 2030 targets for installations, 2023 is expected to be... Continue Reading →
Philip Lewis, Contributor (OE) As we move into March, we note both positive and negative trends developing in the U.S. offshore wind segment. As an indication of the long-term sustainability of the offshore wind industry in the United States, federal agencies are finalizing the auction by the middle of this year of three Gulf of Mexico... Continue Reading →
(Reuters) - BP hasn't fallen out of love with renewables. It just wants to have more power. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes, slowing BP's planned cuts in oil and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has signed with Equinor a letter of intent, expanding on the cooperation between the companies, so that they can assess the technical, economic and environmental feasibility of seven offshore wind power generation projects off the Brazilian coast. These will have the potential to generate up to 14.5... Continue Reading →
Subsea 7 has reported an order intake of over $7 billion for the full year of 2022, representing the highest order intake since 2013, with a backlog of over $9 billion, said to have resulted in high revenue visibility for 2024 and beyond. In 2022, Subsea 7 reported revenue of $5.1 billion, which is a... Continue Reading →
(Reuters) - Shell (SHEL.L) is reviewing its current plan to reduce oil output by 1% to 2% per year by 2030, Chief Executive Officer Wael Sawan said in an interview with the Times published on Friday. Sawan took office at the start of the year with a vow to boost Shell's performance and review its operations, while... Continue Reading →
(Reuters) The chief executive of Brazilian state-run oil company Petrobras said on Thursday the company must prepare for an "unavoidable" energy transition and wants to play a leading role in it. Jean Paul Prates highlighted in a conference call with analysts that Petroleo Brasileiro SA's deepwater operations put the company in a good position for wind... Continue Reading →
(Reuters) - Portugal's largest utility, EDP (EDP.LS), on Thursday said it would invest 25 billion euros ($27 billion) over four years with the aim of nearly doubling its installed renewable energy capacity to 33 gigawatts (GW) by 2026. In its strategic plan through 2026, EDP said 21 billion euros would be invested by its wind and... Continue Reading →
Brazil Energy Insight 